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Search Results 0 to 36 of about 37 (some duplicates have been removed)
cliff. that's the package of tax increases for most americans and budget cuts that will hit automatically unless the white house and congress find a gentler way to solve the crisis in the federal budget. here's how treasury secretary tim geithner put it on cnbc. >> is the administration prepared to go over the fiscal cliff? >> absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest americans. ren, it's only 2%. >> pelley: by 2%, he means individuals making more than $200000 and couples taking in 250,000 or more. republicans say rates shouldn't be increased on anyone. with no agreement, going over the fiscal cliff would be painful. the automatic tax increases break down like this: households making $20,000 to $4,000 would see an increase in $1,200 a year. incomes $40,000 to $64,000 would see taxes rise $2,000 and in the $64,000 to $108,000 bracket taxes go up $3,500 a year. mr. obama and the republican speaker of the house talked this over today and here's major garrett at the white house. major? >> reporter:
're perfectly willing to go off the fiscal cliff. that means a tax hike on middle class americans and maybe some of them are thinking this morning i'm not really so happy geithner said that. >> it might have been inartful for him to say it the way he said it. i think he is making a very important point, which is that the american people did vote. they voted for the one thing the president said very clearly, which is that tax rates would go up on the wealthiest. it's an incredibly popular position. it's important for republicans to know that the white house is not going to accept any kind of a deal. that's the point he was trying to make. i think all the leverage now is with the democrats, with the president. the american public is on his side. i think it's important for the republicans not to think that they can just get any kind of deal out of him because if they do go over the cliff, there is a solution. the very next day, the house can simply pass a bill, giving tax relief to 98% of americans and we go on. >> but the house is controlled by republicans. >> and it would be the republicans fault
will not play that game. >> tonight, democratic whip steny hoyer gives me the latest fiscal cliff developments and the democratic line on medicare. tom perriello from the center of american progress action fund on how democrats can deal with republicans who can't deal with reality. rubio and ryan reload with a new message for the middle class. >> both parties tend to divide americans into our voters and their voters. >> but there is no escaping their own policies. >> we're going to a majority of takers versus makers in america. >> dnc chair debbie wasserman schultz responds tonight. plus, senator barbara boxer on her new plan for national polling place standards. and a new poll shows half of all republicans think the defunct group a.c.o.r.n. stole the election from president obama. >> that's an eye opener. >> i wonder where they ever got that idea? >> you just have to wait and see what happens. >>> good to have you with us tonight, folks. thanks for watching. here is are the latest. republicans are at a stalemate with the white house for debt negotiations. republicans really only have two opti
on the impact the fiscal cliff would have on americans at home. secretary of state clinton is warning not eaching a budget deal would have an impact on global economy global security. she gave a speech at the brookings institute yesterday and said she's hearing concerns from other countries about the choices we're making when it comes to the economy and it's essential that lawmakers in washington make a meaningful deal. we're back after the break. stay with us. i want to have that conversation. let's talk about it. really? you're going to lay people off because now the government is going to help you fund your healthcare. really? i want to have those conversations, not to be confrontational, but to understand what the other side is saying, and i'd like to arm our viewers with the ability to argue with their conservative uncle joe over the dinner table. [ female announcer ] what would you call an ordinary breakfast pastry that's been wrapped in a flaky crust stuffed with a gooey center toasted up all golden brown then given a delicious design? a toaster strudel. pi
td ameritrade. >> jennifer: as we crawl toward the fiscal cliff remember that president obama has the majority of the american electorate on his side. he has the majority of the u.s. senate on his side too. but the one place he does not have the majority is the house of representatives, of course, where republicans out number democrats. that's the only place republicans have any leverage. so what will the democrats there do to help the president out? minority leader nancy pelosi offered insight to have at meeting with second of treasury quite miles an hour. ry geithner. >> there are tough choices it isn't easy but it's necessary, i have confidence that my republican colleagues will see the light. and at least pass a new tax cut so we have that legal of confidence and we can go from there. >> jennifer: sound like she is saying the republicans might not be tough enough to do the right thing. sound like she's got the president's back. now, to take us inside the house democrat i can caucus we are turn to go a great, re
between them. >> resa sayah, thank you very much. >>> up next, fiscal cliff futility. in 28 days, crippling tax hikes and spending cuts become a painful reality for every american if a deal does not get done. republicans are offering up a counter proposal to what the president offered a counter proposal that calls for $2.2 trillion in deficit savings. it includes $800 billion in tax reforms, 600 billion in medicare reforms and 600 billion in spending cuts. because it doesn't contain tax hikes for the wealthiest americans or specifics about which loopholes will be eliminated, the president immediately rejected the republican proposal. want to know how far apart democrats and republicans are? listen to this. >> i think we're going over the cliff. >> it's unfortunate the white house has spent three weeks doing basically nothing. >> what we can't do is sit here trying to figure out what works for them. >> the president's idea of negotiation is roll over and do what i ask. >> it's clear to me they made a political calculation. if their ideas are different from ours, we can't guess wha
to your calls about the fiscal cliff and whether -- we told president obama is still the best way to go. remember there's some risk here. the risk is if we do go over the cliff, allow taxes -- that means taxes on every american will go up. every taxpayer will go up first of the year. not just on the top 2%. and somebody's going to get the blame for that. we're counting on the republicans -- americans knowing that republicans are to blame. is that the case? do you agree. 1-866-55-press. is that what the president ought to do. 1-866-55-press. one thing you ought to -- before we get back to your calls urge you to consider, particularly if you are one of those families struggling to make ends meet at the end of every month and who's not, take a look at incomeathome.com. no obligation. just check it out. they're america's leading work from home business and they're offering you an opportunity you can do. in matter your age education or experience, you can literally earn money on your own laptop from your own kitchen ta
the fiscal cliff is. move a lot of the damage to the economy on january 1. let's go ahead and pass that. we can debate the upper income taxes and the spending later. it's not implausible, you can make a sophisticated argument why it's a mistake but as a first blush argument the president has the advantage. >> bret: juan? >> i think that you are starting to see much of the posturing and the poxing and the -- positioning and the democrats and president have advantage and trying to take advantage of it. you see it from the polls that come out and most people blame republicans if there is to deal. right now just what you saw from speaker boehner. speaker boehner says the president is asking for $1.6 trillion in terms of added revenue. boehner has come out and said he will do a deal with $800 billion, which is what the president was asking for before. what you have is the outline now, the early outlines of some in between spot where they could in fact find middle ground. then you have the democrats trying to put pressure on the republicans to name their own cuts. where would you cut in addition
significant, the biggest stumbling block on the road to the fiscal cliff, that difference between tax rates for the wealthiest americans. and what house democrats announced they're going to try to do is an end run around the house gop to try to file a petition in order to try to push a vote on the house floor to just raise taxes -- excuse me, to just extend the bush-era tax rates for middle class americans. but to do that, as you know, they need 218 votes and there's still a very sizable republican majority in the house. it will be difficult for democrats to do that. >> absolutely. and that proposal to take away what has been historically a congressional prerogative was a little bit surprising even to people who have been reading about this stuff for years. is it true though, dana, as it has been in past years that both sides at least have to show their bases that they're fighting the good fight and that's part of what's going on here? >> reporter: absolutely. there's no question about it. what i mention in the piece really is a real phenomenon here when it comes to the feeling among congre
for republicans going forward. our fiscal cliff-mas gift today alan smith gets down gangnam style. what the senator is saying about the video that's gone viral watching the daily rundown only on msnbc. u see this? oh, let me guess -- more washington gridlock. no, it's worse -- look, our taxes are about to go up. not the taxes on our dividends though, right? that's a big part of our retirement. oh, no, it's dividends, too. the rate on our dividends would more than double. but we depend on our dividends to help pay our bills. we worked hard to save. well, the president and congress have got to work together to stop this dividend tax hike. before it's too late. ♪ ♪ [ male announcer ] everyone deserves the gift of all day pain relief. this season, discover aleve. all day pain relief with just two pills. this season, discover aleve. restore revive rejuvenate rebuild rebuild rebuild when you take a closer look... ...at the best schools in the world... ...you see they all have something very interesting in common. they have teachers... ...with a deeper knowledge of their subjects. as a res
really wants to avoid sending the economy over the fiscal cliff, he has done nothing to demonstrate it. the position of congressman tom cole, that the party should agree immediately to extend the bush tax rates for americans making less than $250,000 a year is the best of a bunch of bad choices for the gop. >> the g 0 op is boxed in saying it's a terrible position because by default democrats get what they want. a big bargaining chip for house republicans is they need congress to raise the debt ceiling before the end of february when analysts estimate the treasury would run out of options and hit the borrowing cap. no deal is reached. closer to the deadline and today they will argue that's bad for business. help in supporting an approach without drama or delay a. >> we can't be going through another debt crisis, debt ceiling crisis like in 2011. that has to be dealt with. >> the president of the business roundtable has said congress should raise the debt ceiling enough for the next five years to avoid uncertainty. clearly that's something that won't happen. short term spending cuts sho
't think the american people will get anything unless we let things go over the fiscal cliff. republicans will never agree to anything. i think obama needs to stick to his guns. guest: that is one of view of some liberals and some republicans say let's go over the cliff. then you get to cut tax rates. that is easier politically to do. nobody says it is their first choice. some say the democrats could have more leverage if we go over the cliff. some think tanks have said and most people understand it is a slope. it will be gradual. many people are looking to the stock-market to see what their reaction is if there is not a deal. that could have its own impact on the economy. host: author any strong advocates in the administration who maintain the payroll tax cuts? guest: chris van hollen is a top democrat in the house and has been vocal about saying we should continue it. larry summers said we should continue it. the obama administration had said that it was time to go back and let the tax cut expire. they have been quiet about that recently. host: now again, from "money" magazine. if you m
, then they're going to risk the whole economy in going over the fiscal cliff. i don't think that's sustainable. i don't think people fully understand, what the president is saying is 100% of american families and small businesses get continued tax relief on their first $250,000 in income, and on the income above that amount, higher income people would be paying the same rates they did during the clinton administration, which is four more cents on the dollar. and, again, i don't think that's at all unreasonable. the president talked about this at length during the presidential campaign, and i believe -- i think people like tom cole, a conservative republican in oklahoma had it right when he warned his colleagues they would look totally obstructionist if they allowed that to happen. >> congressman, also included in the president's plan was that $200 billion in new stimulus measures. mention the word stimulus to republicans, and, well, they're not too happy with that word. so why do that? why deliberately like -- it seems like it was a deliberate poke in the side. >> no, carol. this
geithner may have frightened people yesterday saying the white house is prepared to go off the fiscal cliff unless republicans bend on taxes. a comment by former democratic potential candidate howard deen frightened republicans that the debate is not just about raising taxes on the rich. >> the truth is everybody needs to take more taxes, not just the rich. that's a good start, but we're not going to get out of the deficit problem unless we raise taxes across the board. to go back to what bill clinton had. >> now, some liberals pushed the president to invoke the 14th amendment claiming that gives him the executive power to raise the debt limit himself, but jay said today the white house studied that proposition and decided the president does not have that executive power meaning we headed for another show down with congress over raising the debt ceiling. lou: the fiscal cliff and now a new ultimatum on the national debt ceiling. you suppose this is the last condition? >> it's going to be a wild couple of months, maybe everybody thought with the election over, there was going to be peace and
've got a fiscal cliff now. we have the fiscal abyss next year. we need to say, don't come home. no deal, no break. members should be in washington at least five days a week like every other american and not leave until they deal with the fiscal cliff this year or until we get a grand bargain next year. they would pull off seven times more days -- >> david faber tweeted this morning that they should be locked in a room and forced to listen to the animal orchestra until they have a deal. >> david faber's hair. >> you put them in a room. you tell them they're going to sit there until the deal is done. day three, no more food. day five, no water. day seven, the waterboarding begins. that would get it done. >> and the president should be there, too. >> the president does work five days a week. >> but not in the same room. but he is home. he's already home. >> but listen, they spend too much time raising money. if they did a good job, they wouldn't have to raise as many money. if they got paid for performance, they wouldn't have any money. >> are you going to run for linda mcmahon's seat? >>
: a tweet -- now? mike, an independent caller in wisconsin. caller: the fiscal cliff and are 100 trillion dollar debt, mostly it's the fault of the american people. i blame congress in general for not having the courage to tell us the truth, but it is the american people who don't want to deal with that is essentially forcing this thing. host: 1 cumene? hat do you mean? caller: we have unsustainable debt. it has to be reformed. for decades we have been electing politicians will tell us what we want to hear, but we cannot pay for the programs we want. until the american people themselves can deal with the truth, we're not going to solve this. contacting our politicians, offering sacrifice of the programs we like is the only solution. until then, politicians will not have the courage to cut the programs that we simply tell them not to touch. host: here is the editorial in the wall street journal this morning -- rick? caller: it's like a bar tab. we are the runs that ran up the bartec. our grandchildren will ultimately have to pay it until we realize we have to stop drinking and start paying
it if we come it to a deal with the fiscal cliff and get economic growth and get people investing, inflation will go up. so that is going to be a problem for american families. like you said, there are places that business can succeed. is it government-infused money to get there, or is it going to be actual, real, american dollars in there? >> susan, that's really the opportunity. first of all, i don't think inflation is a concern for years. in order for inflation to be a concern it it has to get into the wage cycle. we're far from that. the needs are clear. ports, roads, transport rail and plus protection against extreme weather. on the other side demand. the demand for infrastructure investments isle coming from the private sector. this is very new and it's driven by the fact as rates come down the opportunities for investors, pension funds and sovereign wealth funds to find opportunities to give them the yield they want, 5 to 6% are disappearing. infrastructure offers that opportunity. it's a long-term opportunity. it matches their liabilities, what they need to protect to pay
analysis, a, most americans don't understand what the fiscal cliff is or the impact that it could bring or do you think it's because they believe that ultimately we will get a deal by december 31st? >> well, as you say, it's a bit of a mystery why confidence is so high. it may have something to do with the housing market and house prices being up around most of the country. that probably does help confidence some. i expect as you point out that most people probably don't have on their radar how large a tax hit we could have early next year if the fiscal cliff actually materializes. so it is a mystery. it does seem like right now consumers aren't too worried about the fiscal cliff. >> at what point do you get concerned? it sounds like perhaps a risk of revisions to q-4 estimates to the downside at this point because as the negotiations grind on and we approach year end, it might reach more of the forefront of consumers' mind and they may pull back. are you concerned about that impact? >> i am. right now we only have october data in hand. and fiscal cliff fears really accelerated in novem
for everything he has done. [laughter] and now we can talk about the fiscal cliff. let me start off just by -- we will do the house rules, except we will cut in half. 30 seconds -- then we will have time to elaborate on all this. i want to go through the panel. what do think the odds are that some kind of the deal will be cut by january 1 in order to avoid sequestration and all the tax hikes? mark, i will start with you. >> i think it is 80% that we will avoid sequestration. the question is, though, is this going to be a big enough deal, and will actually be enough of a down payment that it will lead to something else subsequently that will actually avoid the kind of enormous consequences of $16 trillion of debt? that percentage will be lower than the 80%. >> let's come back to the big picture -- in the short term, by january 1 -- will we avoid the cliff? >> i think it is likely that we avoid it. it does not appear that that is going so well. it is so easy for us just to do the things we need to do. i think the real line in the sand is going to be the debt ceiling. i really do think -- i have sai
the fiscal cliff? but the g.o.p. is not so keen on a deal, at least the one the white house presented yesterday. the first offer from president obama and treasury secretary timothy geithner included a $1.6 trillion tax increase along with an extension of the payroll answer it cut and unemployment insurance and a request for $50,000,000,000 worth of stimulus spending next year. now, it doesn't promise $400,000,000,000 worth of spending cuts but congressional republicans call the deal unbalanced and unreasonable and saying there is not enough spending cuts and reforms. the one good piece of -- piece of good news to the white house on this is it shows president obama is opening strong not conceding. we will be right back. arguments to feel confident in their positions. i want them to have the data and i want them to have the passion. but it's also about telling them, you're put on this planet for something more. i want this show to have an impact beyond just informing. an impact that gets people to take action themselves. as a human being, that's really important.
parties can't get together to come to agreement on avoiding the fiscal cliff. it's as if some are in denial that there was an election and that the president won reelection. and that a whole bunch of us won reelection to the senate and to the house. it's as if the ideological rigidity is still indoctrinaire. and the lesson as that the people were telling us about -- and the lessons that the people were telling us about bipartisanship, that they demand bipartisanship, as if the parties and their leaders didn't understand that that's what the american people were demanding. and here, as the drumbeat grows louder as we approach december 31st and falling off the fiscal cliff. now, there's an easy cliff, whatever your ideology and your approach to this. it can be hammered out next year when we are doing major things, such as a rewrite of the i.r.s. tax code and all that that can portend in producing revenue. by making the code more streamlined and in the process get rid of a lot of the underbrush, loopholes, utilize that revenue to lower rates. but that's for another day after long
, the fiscal cliff we're talking about has all kinds of components to it. it's the estate tax death tax, capital gains, dividend, alternative minimum tax, all the things that will harm a vast majority of americans from a tax standpoint in a significant and fundamental way. we believe those rates ought no increase. the president is willing to play politics and take us to the brink of raising those tax rates on virtually every single american. that's not what we believe is the kind of activity will get our economy and jobs rolling again. >> the white house will argue they're not the ones holds out to protect the top 2%, that it's the republicans doing that. >> great point, chris, the problem is what the president is holding out for is a nonsolution. the tax increases that the president wants on the top 2% will run this government not for eight years or eight weeks or eight weeks but run this government for eight days, which means it's not a solution. the president is not interested in real policy solutions by evidenced by what he has proposed, he's interested in politics and that's the ch
the fiscal cliff. eye roncally enough, something the house of representatives passed last may. in april set out a tax plan. in may passed a sequestration plan, went to the senate and said we're going to see you in the lame duck time period. we're in the lame duck and this had has to be solved. we have to solve the problem. the first thing is to define what the problem even is. it seems one group is talking about the real problems, the fiscal cliff, and the other group is talking about the real problem, the debt and deficit. what is the real issue? we have $16.3 trillion in debt as a nation. $1 trillion of overspending or each year for the last four years. let me set the example of what this really means. in 2007, our tax revenue, how much we were bringing in the treasury, is almost exactly what it is in 2012. from 2007 to 2012, the revenue is almost identical. the difference is our spending has gone up $1 trillion a year. from 2007 to 2012. so over the course of that time it's slowly built up. but each year we've been over $1 trillion in spending. while our revenue has stayed consistent bas
released his counterproposal on the fiscal cliff that grover norquist is still very much in charge of the republican party. republicans said once again that they were absolutely unwilling to raise tax rates on the wealthiest of americans. even though they were adopted in 2001 as a temporary measure only because we had a surplus. they were temporary because ten years later, we might have a surplus. we might need the money. that's exactly the situation is today. but sadly, it is not grover norquist or mitt romney or mitch mcconnell that's running the republican party. it is still a big lobbyist by the name of grover norquist. have a good one folks!
-called fiscal cliff is a solvable problem. critical as the holidays approach and businesses make investment and hiring decisions for next year. while polls show many americans are pessimistic, there's optimism in this home. >> i got a sense that he's confident that what's best for the american people will happen. >> yeah. >> reporter: you agree? >> yes. >> i do too. >> reporter: but for now, the gop's resisting any tax increases even on those upper income americans. house republicans of course have made the counteroffer with $800 billion in new revenue and an overhaul of the tax code. wolf, they feel as if they have moved the ball, but they don't believe that the president is interested in avoiding the fiscal cliff. >> these negotiations, dan, they usually go until the bitter, bitter end. a lot of folks are assuming that before that end there will be a deal. give us a flavor of the mood at the white house. >> reporter: well, i think they're preparing for this fiscal cliff scenario to play out, wolf. but as you point out when we look back over the last three years, we've had these kinds of n
up on the wealthiest americans. and i don't really see them doing that. >> if the republicans say sorry, no way are we going to raise rates on the wealthy, you guys are willing to go off the fiscal cliff? >> if republicans are not willing to let rates go back up, and we think they should go back to the clinton levels, a time when the american economy is doing exceptionally well, then there will not be an agreement. >> but house speaker john bigger is digging in himself, admitting talks are going nowhere. speaker boehner also described the moment when secretary geithner first showed him the president's opening offer. >> i was just flabbergasted. i looked at him and said, "you can't be serious." i've just never seen anything like it. you know, we've got seven weeks between election day and the end of the year. and three of those weeks have been wasted with this nonsense. right now i would say we're nowhere, period. we're nowhere. we've put a serious offer on the table by putting revenues up there to try to get this question resolved. but the white house has responded with virtually
Search Results 0 to 36 of about 37 (some duplicates have been removed)

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